Mancozeb Market - Forecast(2024 - 2030)

Mancozeb market size is forecast to reach $916 million by 2025, after growing at a CAGR of XX% during 2020-2025, owing to the vital role of mancozeb in killing or preventing the growth of fungi and their spores that harm or destroy the food crops. With growing global populations that constantly challenge food production, mancozeb offer a means towards meeting the challenge of more food from less land. Mancozeb is a non-systemic agricultural fungicide and they are being extensively used to destroy or suppress the growth of harmful microorganisms such as bacteria, viruses, or fungi on the crops. Thus, the extensive usage of mancozeb as a crop care product is anticipated to drive the mancozeb market substantially during the forecast period.

The report: “Mancozeb Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the mancozeb Industry. 

By Form: Solid, and Liquid

By Application: Food Crops, Cash Crops, Horticulture Crops, Plantation Crops, Turf & Ornamental, and Others

By Geography: North-America, South-America, Europe, Asia Pacific, and RoW

The liquid segment held the largest share in the mancozeb market in 2019, owing to its superior characteristics such as convenience to use and comparatively cheaper than the other alternatives. Also, mancozeb in liquid form are easy available and soluble in nature. The liquid form based mancozeb are being extensively used in the agricultural farms to improve crop productivity and in horticulture to supply sufficient amount of nutrients at each stage of crop growth. Thus, the extensive usage of liquid mancozeb is anticipated to propel the mancozeb market during the forecast period. 

The food crop held the largest share in the mancozeb market in 2019 and is growing at a CAGR of XX%, owing to the increasing demand of food crops such as wheat, rice, pulses and others in various regions. There is an increasing demand for food crops as they are a staple food in various regions especially in the Asian countries. The global use of rice for livestock feed has steadily increased over the past several decades. According to the Food and Agriculture Organization (FAO) the global use of rice for feed in 2013 was 33.6 million mt and that feed use has been growing by 0.5 million mt per year since 2003, an average growth rate of 1.7 percent. According to United States Department of Agriculture (USDA) rice consumption in 2019-20 is estimated at 102 million tonnes, an increase of 3% and the rice consumption is expected to increase further in 2020-21 to 108 million tonnes with the government pushing more subsidized rice. And mancozeb are often used to prevent the growth of molds on food crops. Thus, the increasing food crop production will require more mancozeb fungicide, which is anticipated to drive the mancozeb market in the food crop sector during the forecast period.

Asia Pacific region held the largest share in the mancozeb market in 2019 up to 35%, owing to the increasing agricultural investments by the government in the region. The governments are spending heavily on initiatives and investments in the field of agriculture as it is one of the most effective ways of reducing hunger and poverty, and promoting agricultural productivity. In 2016, according to China’s Ministry of Agriculture, over 1,300 Chinese enterprises had overseas investments in agriculture, forestry, and fisheries valued at $26 billion. The total quantum of private investment in India is projected to increase (with added investment of Rs. 78,424 crore) from Rs. 61,000 crore in 2015-16 to Rs. 139,424 crore by 2022-23. The Indian government introduced Pradhan Mantri Samman Nidhi Yojana under Budget 2019-20, in which a minimum fixed pension of Rs 3000 (US$ 42.92) is to be provided to the eligible small and marginal farmers, on attaining the age of 60 years. In Japan, a digital farming technology has been developed to help experienced farmers to use water and fertilizers more efficiently. Thus, such government initiatives are increasing the agricultural sector which is further increasing the mancozeb demand. Thus, the increasing demand of mancozeb for easy production of crop is anticipated to drive the mancozeb market in APAC during the forecast period.

The governments are spending heavily on initiatives and investments in the field of agriculture as it is one of the most effective ways of enhancing environmental sustainability. The United States Department of Agriculture took an initiative – “The Agriculture and Food Research Initiative (AFRI)” to ensure food safety and security and train the next generation of the agricultural workforce. In 2020, the Canadian government invested a total of $560,000 on the Canadian Federation of Agriculture (CFA) to develop the Canadian Agri-Food Sustainability Initiative. The European government has take initiatives such as Common Agricultural Policy (CAP) and Young Farmers. The 2010- 2013 National Strategy for France’s Sustainable Development aimed to develop a more sustainable food production and support green economy and business innovation, and during the tenure it achieved a higher domestic organic production and consumption. Thus, the various agricultural initiatives by the government are booming the agricultural sector in various regions. And with the increasing agricultural sector the demand for mancozeb will also increase, which acts as a driver for the mancozeb market during the forecast period.

Excessive and irrational use of fungicides such as mancozeb causes environment deterioration and has non-target effects on plants and animals. The fungicides are responsible for residue problems, resistance development in pathogens and different health hazards to human beings and other living organisms. Mancozeb is known to cause hypothyroxinemia and other adverse effects on the thyroid hormone system in adult. Hypothyroxinemia in pregnancy is associated with adverse effects on the developing nervous system and can lead to impaired cognitive function and motor development in children. Fertilizers such as mancozeb harm more than just the pests at which they are targeted. Thus, these health hazards from mancozeb may hinder with the mancozeb market growth during the forecast period.

The production of vegetables, fruits, wine, and crops requires extensive crop care such as seed treatment, soil management, crop protection, and more for which mancozeb are extensively used. However, over the coming month due to the COVID – 19 outbreaks, the production in these sectors is experience difficulties like untimely crop care and pesticide product deliveries, trade and deliveries issues, and more. According to China Oil and Foodstuffs Corporation (COFCO), in China for instance, processing of soybeans has been impeded due to a slowdown in exports from Brazil, on account of a lack of freight capacity from Mato Grosso to the country’s ports. This has led to a shortage of soybeans for crushers in China. Also the governments banned export and import of certain commodities such as on March 31, 2020, the Eurasian Economic Commission (EEC), banned number of food products, most notably sunflower seeds and soy beans. These import and export restrictions are limiting the mancozeb market growth during the pandemic. 

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the mancozeb market. In 2019, the market of mancozeb has been consolidated by the top five players accounting for xx% of the share. Major players in the mancozeb market are Dow AgroSciences, Indofil, Sabero Organics, Limin Chemical, United Phosphorus Ltd., Hebei Shuangji Chemical, Nantong Baoye Chemical, and Xian MPC Stock Co., Ltd.